The sun is shining in Long Beach, California!

[Kevin D.]

I've lived in California for a few years now. It's the place that feels most familiar and it's the place I'd like to keep my money.

I purchased my first property in 2011. A coworker convinced me that looking at duplexes was a good idea. While my peers bought 3 bed/1 bath SFRs close to work, I looked for an area that had a grocery store, walkable streets, and proximity to the beach. The place I found is 3 bed/2 bath with a studio guesthouse and a (relatively) large lot at 7500 sq ft. Rent from the guesthouse effectively covers the 970/month mortgage and only utilities, taxes, insurance are left as costs.

So I've been saving my pennies for the last few years and I think I'm ready to buy again. Of course, now prices are significantly higher than they were in 2011. I was resigned to looking at property in other parts of the country after learning about the 2% rule (rent should be 2% of purchase price). This doesn't look so good in Long Beach where typical pricing looks like $2000/month rent on a 3 bed/2 bath place that cost $300k. I just don't see getting $6k/month out of that same house.

Props to @Aaron Mazzrillo for making me believe that there is hope in the SoCal market. I haven't found the right deal for me, but I'm looking for it. For anyone who hasn't listened to Aaron's podcast, it's worth a listen.

So that's my BiggerPockets journey so far. I wanted to make sure I made an introduction before too much more transpired. Moving forward I'm interested in meeting persons who are invested/investing in Long Beach and surrounding areas like San Pedro, Huntington Beach, Garden Grove, Los Angeles, Carson, Wilmington, Paramount. I've already found a meetup group or two, but I'm looking for more.